Tuesday, 11 May 2021 | 20:24 WIB

Dubai Company Invests in Three Towers of Apartments of PPRO in Surabaya

Dubai Company Invests in Three Towers of Apartments of PPRO in Surabaya.

SURABAYA, NNC - PT PP Properties Tbk (IDX:PPRO), publicly-listed property developer which is subsidiary of PT PP (Persero) Tbk (IDX:PTPP) received a visit from Managing Director of Budget Petroleum, Dubai, UAE, Zahid Bashir and CEO of PT Arvada Investama Nanang, who bought three towers of apartments of PPRO in Surabaya, i.e., Grand Shamaya, Grand Dharmahusada Lagoon and Grand Sungkono Lagoon.

The three apartments are located in the city of Surabaya spread across three points of the city, which is, Central Surabaya, East Surabaya and West Surabaya. As the second largest city in Indonesia, the growth of Surabaya city continues to increase every year.

This can be seen from the development of Surabaya City infrastructure that is currently not less than Jakarta. In the last decade, Surabaya has been transformed into a city that experienced rapid economic growth and infrastructure development.

Data from the Central Statistics Agency (BPS) showed that the economic growth of Surabaya City reaches six percent and higher than the national average which only reaches about 5.1 percent.

Development of infrastructure and infrastructure is also continuously pursued by the Surabaya City Government, such as inter-city toll road development, completing the construction of frontage road as well as the planning of Mass Rapid Transit (MRT).

The construction of Surabaya facility becomes trade route and transit area or meeting place of capital owners to invest their capital in Surabaya. Looking at the current market conditions it proves that the property market in Surabaya remains attractive to investors.

"The purchase of three towers is a testament to market confidence in PPRO Innovative products. With this IDR2.1 trillion purchase, PPRO is optimistic to achieve its performance in 2018," said PPRO President Director Taufik Hidayat in a press release on Sunday (7/8/2018).

He expressed his gratitude to the Surabaya City Government who has expedited the licensing administration process so that the apartments now can commence construction. "Surabaya city administration under the leadership of Mrs. Risma has also created a conducive atmosphere so that investors are still interested to invest in Surabaya," he concluded.